Wall Street analysts forecast that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will report sales of $29.03 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with estimates ranging from $25.14 million to $32.40 million. ACADIA Pharmaceuticals reported sales of $5.27 million during the same quarter last year, which indicates a positive year-over-year growth rate of 450.9%. The company is scheduled to report its next earnings report on Monday, November 6th.

According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $29.03 million for the current year, with estimates ranging from $106.61 million to $115.60 million. For the next year, analysts expect that the company will post sales of $230.41 million per share, with estimates ranging from $224.00 million to $233.94 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.17. The company had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. ACADIA Pharmaceuticals’s quarterly revenue was up 30400.0% on a year-over-year basis. During the same period last year, the company posted ($0.63) earnings per share.

A number of equities analysts have weighed in on ACAD shares. Zacks Investment Research cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Monday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. BidaskClub raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, July 24th. ValuEngine raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Rodman & Renshaw reaffirmed a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $43.23.

TRADEMARK VIOLATION NOTICE: This article was first posted by Watch List News and is the property of of Watch List News. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.watchlistnews.com/analysts-anticipate-acadia-pharmaceuticals-inc-acad-will-post-quarterly-sales-of-29-03-million/1476988.html.

ACADIA Pharmaceuticals (ACAD) opened at 31.21 on Friday. The stock’s market capitalization is $3.81 billion. ACADIA Pharmaceuticals has a 1-year low of $20.68 and a 1-year high of $40.83. The company’s 50-day moving average is $29.35 and its 200 day moving average is $32.02.

In other news, EVP Glenn Baity sold 38,097 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the sale, the executive vice president now owns 109,253 shares of the company’s stock, valued at $3,277,590. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 54,322 shares of company stock worth $1,699,551 in the last three months. Corporate insiders own 22.25% of the company’s stock.

A number of hedge funds have recently modified their holdings of ACAD. Candriam Luxembourg S.C.A. purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at $2,097,000. PNC Financial Services Group Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares during the period. Jana Partners LLC boosted its stake in shares of ACADIA Pharmaceuticals by 39.8% in the first quarter. Jana Partners LLC now owns 421,140 shares of the biopharmaceutical company’s stock valued at $14,479,000 after buying an additional 119,897 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 134.7% in the first quarter. Ameriprise Financial Inc. now owns 882,722 shares of the biopharmaceutical company’s stock valued at $30,329,000 after buying an additional 506,605 shares during the period. Finally, Handelsinvest Investeringsforvaltning boosted its stake in shares of ACADIA Pharmaceuticals by 167.6% in the second quarter. Handelsinvest Investeringsforvaltning now owns 58,600 shares of the biopharmaceutical company’s stock valued at $1,634,000 after buying an additional 36,700 shares during the period. 97.34% of the stock is currently owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Get a free copy of the Zacks research report on ACADIA Pharmaceuticals (ACAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.